Residency

All borrowers, including U.S. citizens

Borrowers must have a Social Security number which must be on all applicable income, asset, or credit documentation contained in the loan file.

Permanent Resident Aliens

Eligible under same conditions as a U.S. citizen. Permanent Resident Alien Card (Green Card – need copy of front and back of card) required for all borrowers on the loan, regardless of whether or not their income and/or assets are being used to qualify.

Non-Permanent Resident Aliens

Temporary residents which are granted to the right to live and or work in the U.S for a specified time frame. All Non-Permanent Resident Aliens must have a 2-year history of residency and employment with income expected to continue for at least 3 years.

  • Eligible under same conditions as a U.S. citizen. Legal resident with valid Social Security number, employed in U.S. ITIN not acceptable.
  • All non-permanent resident aliens must provide evidence of a valid, acceptable visa or an Employment Authorization Document (EAD). A copy of the unexpired visa (see Expired Visa Requirements below) or EAD must be included in the loan file.

Employment Authorization Document (EAD)

A current (unexpired) Employment Authorization Document (EAD) issued by the United States Citizenship and Immigration Services (USCIS) may be provided in lieu of a visa.  If the EAD will expire within one year, the following must be provided:

  • One previous EAD renewal must be documented, or
  • If there are no prior EAD renewals, the likelihood of renewal must be determined based on the information from the USCIS.
  • Eligible under same conditions as a U.S. citizen. Legal resident with valid Social Security number, employed in U.S. ITIN not acceptable.

Eligible Visa Classes

  • A Series (A-1, A-2, A-3)..........These visa are given to officials of foreign governments, immediate family members and support staff. Only those without diplomatic immunity, as verified on the visa, are allowed.
  • E-1..........Treaty Trader and E-2 Treaty Investor This visa is essentially the same as an H-1 or L-1; the title refers to the foreign country's status with the U.S.
  • E-3..........Given to Australian nationals employed in a specialty occupation.
  • G series (G-1, G-2, G-3, G-4, and G-5)..........These visa are given to employees of international organizations that are located in the U.S. Some examples include the United Nations, Red Cross®, World Bank, UNICEF, and the International Monetary Fund. Verification that the applicant does not have diplomatic immunity must be obtained from the applicant’s employer and/or by the viewing the applicant’s passport
  • H-1 (includes H-1B and H-1C)..........Temporary Worker This is the most common visa given to foreign citizens who are temporarily working in the U.S.
  • H-4..........These visas are given to dependents of a qualified H-1 visa holder. When income is being used to qualify, a current (unexpired) Employment Authorization Document (EAD) issued by the USCIS is also required.
  • L-1..........Intra-Company Transferee An L-1 visa is given to professional employees whose company's main office is in a foreign country.
  • L-2..........These visas are given to dependents (spouse & unmarried children under 21 years of age) of a qualified L-1 visa holder. When income is being used to qualify, a current (unexpired) EAD issued USCIS is also required.
  • O-1A..........Individuals with an extraordinary ability in the sciences, education, business, or athletics (not including the arts, motion pictures, or television industry).
  • O-1B..........Individuals with an extraordinary ability in the arts or extraordinary achievement in motion picture or television industry.
  • O-2..........Individuals who will accompany an O-1, artist or athlete, to assist in a specific event or performance.
  • TN..........NAFTA visa Used by Canadian or Mexican citizens for professional or business purposes.
  • TC..........NAFTA visa Used by Canadian citizens for professional or business purposes.

Expired Visa Requirements

A borrower with an expired visa may be considered, subject to each of the following:

  • Visa classification is one of the eligible visas listed below.
  • Confirmation that the Borrower has submitted an application for extension of the visa or an application for a green card. Documentation includes, but is not limited to:
    • USCIS form I-797 (issued when an application or petition is approved).
    • USCIS Form I-797 or I-797E (must not state that the application has been declined).
    • Application for extension of current visa (USCIS Form I-539 or equivalent) or copy of application for green card (USCIS form I-485 or equivalent) and electronic verification of receipt from the USCIS website.
    • If the borrower is sponsored by the employer, the employer may verify that they are sponsoring the visa renewal.